Identity Verification Company Trust Swiftly Launches Its Robust Platform to Increase E-Commerce Fraud Prevention
- Trust Swiftly focuses on providing companies a customizable verification package that keeps authenticated users in the fast lane, while requiring high-risk users further checks to defeat fraud attacks
Trust Swiftly launches the first-ever identity verification platform featuring 15 different methods of authentication that safely approves real e-commerce customers while stopping fraudsters fast.
By combining multiple verifications, Trust Swiftly provides legitimate customers the most efficient and enjoyable experience possible while fraudulent actors are quickly identified. The platform is customizable and allows users the capability to feature as many of the verification methods as they see fit.
This package allows companies to treat each customer uniquely in a pay-as-you-go pricing package without lengthy contracts. In addition, to the extensive verification methods, the Trust Swiftly system allows clients to store their data in over 22 regions worldwide which creates a high level of privacy as Trust Swiftly is not collecting any unnecessary information from their customers’ database.
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According to Digital Commerce 360 analysis of U.S. Department of Commerce Data, 2021’s Q1 e-commerce shopping spiked to nearly 20 percent compared to 7.6 percent in 2012. The speed at which e-commerce shopping is growing shows not only the capability of companies to get products and services to customers efficiently, but the increasing trust customers have gained doing so online.
“As our capabilities increase in delivering goods and services online, so does the expertise of fraudulent actors looking to infiltrate businesses,” said Patrick Scanlan, co-founder and CEO of Trust Swiftly. “Not only have fraud actors become more sophisticated, but they continue to advance. Our machine learning system tracks hundreds of distinct attributes from each verification and can identify the fraudulent patterns automatically and in turn prevent declines and loss growth due to fraud.”
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In fact, according to a Juniper Research report, e-commerce retailers are at risk of losing more than $20 billion in 2021 due to fraud. Trust Swiftlybeta clients saw their fraud rates drop by 40 percent, with one client seeing a $15,000 per month return on investment by easily authenticating customers and stopping repeat fraud.
The 15 methods of verification include options like phone SMS ownership, credit card ownership, ID ownership, selfie liveness, document ownership and geolocation to name a few. Trust Swiftly’s technology accurately detects irregularities and provides a central and dynamic platform to verify users no matter the attacks faced.
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